Millennials new ambitions include paying for streaming and paying for their own cell phone bill, according to a new study by TD Ameritrade. It also found that young Americans, whether it was Generation Z or the younger millennials, are more optimistic. By age 20, they plan on moving out. By the time they reach 25, they plan on being married and starting a family. And by 27, they plan on buying a home.

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However half of young Americans still rely on mom and dad when they are in their twenties, yet 9 in 10 parents say they want their kids off the payroll by the age of 25.

In financial expert Chris Hogan's opinion these statistics are appalling.

“It is shocking. You hear this and what you understand is that there’s a lack of reality.” he said during an appearance on FOX Business’ "Mornings with Maria" on Tuesday. “Parents have to be able to educate their young people to understand how money works. You can’t just wait on them to wake up and decide to be responsible. Having one conversation is not teaching them.”

Hogan said learning how to budget, understanding how to attack debt, and how to save and invest are “imperative.”

“It blows me away that we have 30 year olds still living at home. There’s jobs that are out there. You may not be able to find your dream job, but you get a job and then you continue to look,” he said.